No
X would have to equal 6 or greater as if x was 5
5+3 is the same as 8
Markup = $4
b) markup as a percentage of cost is 33.3%
Step-by-step explanation:
Markup
markup = selling price - cost
= $13 - 9
... markup = $3
Markup as a Percentage of Cost
To find the percent markup, divide the markup by the reference value and multiply the ratio by 100%. The reference value for markup is usually cost price, but sometimes may be selling price.
... markup / cost × 100% = 3/9×100% = 33 1/3% ≈ 33.3%
$7881.18
Step-by-step explanation:
Let the initial Investment be 
. The Interest is compounded on a monthly basis at 12% annual interest rate. After 17 years, the Investment amounts to $60,000.
As the annual interest rate is 12%, the monthly interest rate is 1%.
Since this is a compound interest problem, the total amount can be modeled as follows: 
Here 
is the interest rate, i.e 
, and t is the number of time periods, i.e 
= 
∴ Initial Investment = $7881.18
